Vermont Public Utility Commission OKs Vt. Yankee sale

  • The shut Vermont Yankee nuclear power plant in Vernon, Vt.

Published: 12/6/2018 5:45:33 PM

VERNON, Vt.  – The Vermont Public Utility Commission Thursday approved the proposed sale of Entergy Nuclear Vermont Yankee to subsidiaries of NorthStar Group Services for decommissioning the Vermont Yankee Nuclear Power Station site. The PUC also issued an amended Certificate of Public Good, which authorizes NorthStar to own, possess the licenses for, and decommission Vermont Yankee.

Previously, on Oct. 11, the U.S. Nuclear Regulatory Commission approved the transfer of Vermont Yankee’s operating licenses to NorthStar. Entergy and NorthStar are planning to close the sale transaction in early 2019, subject to satisfaction of all closing conditions.

The PUC’s decision is another milestone toward the decommissioning of Vermont Yankee. This aligns with Entergy’s corporate strategy of exiting the merchant nuclear power business.

Vermont Yankee, a single unit boiling water reactor located in Vernon, Vt., began commercial operation in 1972. Entergy acquired the plant from Vermont Yankee Nuclear Power Corporation in 2002. The plant permanently ceased operations on Dec. 29, 2014.

Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations.

NorthStar, based in New York, is a comprehensive “facility and environmental solutions company,” with more than $600 million in annual sales and licenses in all 50 states, according to a statement from Entergy. NorthStar owns and maintains a large, nationwide inventory of specialized dismantling equipment and employs more than 3,000 people.

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